On August 7, Freeport-McMoRan rose 3.26% in pre-market trading, trading at $69.92/share, with turnover of $3.57 million. The rally was driven by a strong Q2 earnings report combined with multiple analyst upgrades and robust copper demand fundamentals.

The company previously reported Q2 adjusted EPS of $0.74, exceeding the consensus estimate of $0.59 by 25%. Revenue came in at $70.29 billion, beating expectations by approximately 4.8%. Following the results, Barclays raised its price target to $80, Bank of America Securities to $80, RBC to $73, while Goldman Sachs maintained its Buy rating.

On the demand side, intensifying global competition in AI data center infrastructure has bolstered copper consumption expectations, lifting the broader sector. Among peers, Southern Copper Corp rose 2.44% and Ero Copper gained 2.25%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)